TD Cowen Cuts Nakamoto Price Target to $17, 58% Decline on July 28

BTC-2.53%
According to The Block, TD Cowen cut Nakamoto's price target to $17 from $40 (adjusted for stock split) on July 28, representing a 58% decline, while maintaining a buy rating. The firm cited pressure from Bitcoin's decline on the company's debt-laden capital structure as the primary reason. Nakamoto currently holds 4,467 BTC (approximately $290 million) and ranks as the 22nd largest public Bitcoin holder.
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